SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) December 14, 2004
ENZON PHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-12957 22-2372868
(State or other jurisdiction (Commission file Number) (IRS Identification No.)
of incorporation)
685 Route 202/206, Bridgewater, New Jersey 08807
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (908) 541-8600
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
|_| Written communication pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|_| Pre-commencement communication pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b)
|_| Pre-commencement communication pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events
Enzon Pharmaceuticals, Inc. (Nasdaq: ENZN) announced today that it has revised
its revenue guidance for the fiscal year (FY) ending June 30, 2005 based on
reduced expectations for North American sales of ABELCET(R) (amphotericin B
lipid complex injection), the Company's antifungal product. The revised
expectations reflect weaker-than-anticipated demand for ABELCET and increasingly
competitive market conditions.
Enzon currently expects North American sales of ABELCET of $55 million to $60
million for the FY ending June 30, 2005, as compared to the Company's prior
guidance of $69 million to $73 million. As a result of the revised ABELCET
guidance, the Company now expects combined product sales for its four internally
marketed products of $100 million to $115 million for the FY ending June 30,
2005, as compared to Enzon's prior guidance of $110 to $125 million.
The statements above regarding the Company's expectations for product sales for
the fiscal year ending June 30, 2005 are forward-looking statements that are not
based on historical fact, Such forward-looking statements are subject to known
and unknown risks, uncertainties and other factors that may cause actual
results, events or developments to be materially different from the future
results, events or developments discussed above. Such factors include Enzon's
ability to compete effectively in an increasingly competitive market, the
existence of continued demand for Enzon's products, as well those factors
described in Enzon's Form 10-K/A and Forms 10-Q on file with the SEC. These
factors should be considered carefully and readers are cautioned not to place
undue reliance on such forward-looking statements. All information in this press
release is as of December 14, 2004 and the Company undertakes no duty to update
this information.
Item 9.01 Exhibits
Exhibit 99.1 Press Release dated December 14, 2004
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: December 15, 2004
By: /s/ Kenneth J. Zuerblis
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Kenneth J. Zuerblis
Vice President, Finance and
Chief Financial Officer